For many organizations receiving federal funds from the American Recovery and Reinvestment Act (Recovery Act or ARRA) can mean not only extra funding but also extra controls and requirements. The American Institute of Public Accountants (AICPA) has published an article related specifically for auditees who have or will receive ARRA funds. The article can be found here.

Topics included in the article are:

• Basics of a single audit.
• Identification of federal awards including how to identify if the funding you receive contains ARRA funds.
• Establish and maintain internal control including tips and hints specific to the Recovery Act by type of compliance requirement.
• Resource section to obtain additional information on single audits and recovery funds.

If you have additional questions relating to single audit or Recovery funds please contact Lewis, Hooper & Dick, LLC at (620) 275-9267.

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